UK: Broad-based strength in GDP – TD Securities

Analysts at TD Securities note that the UK GDP posted a 0.3% m/m gain in July, with fairly broad-based strength, easily beating consensus for a 0.1% increase.

Key Quotes

“Despite the downturns in the PMIs so far in Q3, the hard data suggests that the UK economy should avoid a mid-year recession with a positive Q3 outcome.”